ZWJ Investment Counsel Inc. Has $32.60 Million Stock Position in Phillips 66 (NYSE:PSX)

ZWJ Investment Counsel Inc. raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,967 shares of the oil and gas company's stock after acquiring an additional 5,072 shares during the quarter. ZWJ Investment Counsel Inc. owned 0.06% of Phillips 66 worth $32,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $28,000. Finally, Ruedi Wealth Management Inc. grew its holdings in Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

PSX traded up $1.04 during trading on Thursday, reaching $133.35. 2,133,021 shares of the company's stock were exchanged, compared to its average volume of 2,692,041. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $133.28 and a 200 day moving average price of $140.90. The company has a market capitalization of $56.53 billion, a P/E ratio of 10.18, a PEG ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts' expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $3.87 earnings per share. As a group, analysts predict that Phillips 66 will post 8.19 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66's payout ratio is presently 35.38%.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company's stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Scotiabank lowered their price target on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Morgan Stanley lowered their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $149.50.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.